Allianz Asset Management AG decreased its position in QAD Inc. (NASDAQ:QADA) by 19.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 34,454 shares of the company’s stock after selling 8,129 shares during the period. Allianz Asset Management AG owned about 0.18% of QAD worth $1,047,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of QAD during the third quarter worth approximately $329,000. Bessemer Group Inc. boosted its position in shares of QAD by 74.3% in the fourth quarter. Bessemer Group Inc. now owns 12,900 shares of the company’s stock worth $392,000 after buying an additional 5,500 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of QAD during the third quarter worth approximately $1,018,000. Elkfork Partners LLC bought a new position in shares of QAD during the fourth quarter worth approximately $1,034,000. Finally, Martingale Asset Management L P boosted its position in shares of QAD by 18.8% in the fourth quarter. Martingale Asset Management L P now owns 34,804 shares of the company’s stock worth $1,059,000 after buying an additional 5,499 shares in the last quarter. Institutional investors own 47.49% of the company’s stock.
QAD Inc. (NASDAQ:QADA) opened at 27.65 on Tuesday. The company has a 50 day moving average price of $28.72 and a 200 day moving average price of $26.68. The firm’s market cap is $525.46 million. QAD Inc. has a 1-year low of $18.35 and a 1-year high of $31.10.
QAD (NASDAQ:QADA) last announced its earnings results on Thursday, March 9th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.01. QAD had a net margin of 1.29% and a return on equity of 3.72%. The firm had revenue of $73.30 million for the quarter, compared to analyst estimates of $73 million. During the same period last year, the firm earned $0.31 earnings per share. QAD’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts forecast that QAD Inc. will post $0.32 earnings per share for the current year.
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A number of research analysts have commented on the company. Stifel Nicolaus restated a “buy” rating and set a $33.00 price objective (up previously from $30.00) on shares of QAD in a research note on Friday, March 10th. Benchmark Co. restated a “buy” rating and set a $33.00 price objective on shares of QAD in a research note on Friday, December 30th. Zacks Investment Research upgraded QAD from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Thursday, February 2nd. TheStreet upgraded QAD from a “hold” rating to a “buy” rating in a research note on Wednesday, November 30th. Finally, Canaccord Genuity restated a “buy” rating and set a $33.00 price objective (up previously from $30.00) on shares of QAD in a research note on Saturday, March 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.00.
QAD Company Profile
QAD Inc (QAD) is a provider of vertically oriented enterprise software solutions for global manufacturing companies across the automotive, life sciences, consumer products, food and beverage, high technology and industrial products industries. QAD Enterprise Applications enables measurement and control of business processes and supports operational requirements, including financials, manufacturing, demand and supply chain planning, customer management, business intelligence and business process management.
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